BatteryOne Completes an Oversubscribed Private Placement for $5.85 million

VANCOUVER, Feb. 25, 2020 - BatteryOne Royalty Corp. ("BatteryOne" or the "Company") is pleased to announce that it has sold 11,693,172 special warrants ("Special Warrants") for aggregate gross proceeds of C$5,846,586 by way of non-brokered private placement (the "Closing").

Alex Tsukernik, President and Chief Executive Officer of BatteryOne commented: "We are very pleased to see the strong investor demand on the financing and positive response to our acquisition of the NuevaUnion royalty. This transaction now positions BatteryOne as the premier copper/nickel focused royalty player, which we plan to take public this year."

A total of approximately C$3.0mm (US$2.25mm) from the Closing was used as an initial payment on a 2.0% net smelter royalty ("NSR") on future copper production on the Cantarito claim of the La Fortuna deposit ("La Fortuna Deposit") within the NuevaUnion project, a 50-50 joint venture between Teck Resources Ltd. and Newmont Corporation (see the Company's news release dated February 18, 2020). The Company will make a further payment of approximately C$1.0mm (US$0.75mm) in 12 months to complete its payment obligations prior to the start of commercial production from the royalty area. The balance of the proceeds from the Closing will be used for further royalty acquisitions and for general and administrative purposes. The Company intends to go public by way of filing a non-offering prospectus and apply to list its common shares on the TSX Venture Exchange, subject to exchange listing requirements.

Each Special Warrant had a subscription price of $0.50 and will be deemed exercised into one unit of the Company (a "Unit"), for no additional consideration, on the earlier of (i) becoming a reporting issuer and obtaining a listing of the common shares of the Company (the "Common Shares") on a recognized stock exchange in Canada; (ii) a transaction that provides holders of the Special Warrants with comparable liquidity; or (iii) the date that is four months and one day following the Closing. Each Unit consists of one Common Share and one-half of one Common Share purchase warrant (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common Share (a "Warrant Share") at an exercise price of C$1.00 at any time up to 24 months following the Closing (the "Expiry Date"). In the event the closing price for the Common Shares is C$1.25 or above on the exchange on which the Common Shares trade, for a period of 20 consecutive trading days, the Company may, at its option, accelerate the Expiry Date notifying the holders of the Warrants with the issuance of a press release announcing such acceleration (the "Acceleration Press Release"). In this case, the Expiry Date shall be deemed to be the 30th day following the date of issuance of the Acceleration Press Release.

NUEVAUNION UPDATE

Subsequent to the Company completing its acquisition of the NSR, The Mining Journal and Mining.com reported on February 20, 2020 that Newmont Corporation (NYSE: NEM, TSX: NGT) and Teck Resources Ltd. (TSX:TCK.A & TCK.B) (NYSE:TCK) are investing US$152mm into the NuevaUnion project to focus on drilling the deep extensions of the La Fortuna Deposit. Based on an evaluation request filed with Chile's environmental evaluation service (SEA), the property owners reportedly plan to conduct two drilling campaigns, totaling up to 176 holes, with the objective of characterizing the deposit at depth, and laying the foundations for the development of a mining plan focused on La Fortuna Deposit's deep levels.

The Cantarito claim on which BatteryOne is entitled to a 2% NSR on all copper production, is one of the four main areas historically explored at the La Fortuna Deposit, and sits immediately adjacent to the largest area, La Fortuna. The La Fortuna – Cantarito area comprises the largest hydrothermal alteration system of the La Fortuna Deposit, with a quartz-sericite alteration in excess of 1.2 squared kilometers. Based on an optimized pit-shell at commodity prices of $2.25/lb copper and $950/oz gold, Cantarito accounts for approximately 8% of the resource tonnes of the La Fortuna Deposit.

ABOUT BATTERYONE

BatteryOne is a private royalty company focused on gaining exposure to the world's premier copper and nickel deposits, that will be required for the electric energy transition. The Company will shortly commence the listing process with the TSX Venture Exchange with the objective of completing it later in 2020.

ON BEHALF OF BATTERYONE ROYALTY CORP.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect to future events or future performance of BatteryOne, the use of proceeds, the filing of a prospectus, the listing of common shares on the TSX Venture Exchange, exploration potential and budget at La Fortuna and the Cantarito claim, statements with respect to future events or future performance of BatteryOne, management's expectations regarding BatteryOne's growth. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of BatteryOne to control or predict, that may cause BatteryOne's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the requirement for regulatory approvals and third party consents including approval of the Prospectus and for the listing of the Common Shares, the impact of general business and economic conditions, the absence of control over the mining operations from which BatteryOne will purchase and receive royalties, including risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with BatteryOne's expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. BatteryOne undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Website: www.batteryoneroyalty.com

SOURCE BatteryOne Royalty Corp.